The global artillery systems market is valued at $4.6 billion in 2021 and will grow at a CAGR of more than 3% during 2022-2031. Europe represented the largest region for the global artillery system market in 2021, followed by Asia-Pacific and North America. The artillery system market is expected to witness significant growth over the forecast period 2022-2031.
Market growth is expected to be driven by increased requirements for the latest military equipment across all the countries in the near future. Also, the need to automate these systems in order to be effective in a network-centric environment is projected to spur investments in this market. In addition, demand for artillery systems is anticipated to be driven by the ongoing territorial disputes across all regions, as well as the military modernization initiatives undertaken by major militaries to replace and upgrade their old artillery systems. Moreover, war-affected countries, such as the Central African Republic, Egypt, Nigeria, Afghanistan, Syria, and Yemen are anticipated to invest in the artillery systems market over the coming years.
Global artillery systems market overview
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What are the global artillery systems market dynamics?
The increasing instances of political instability, public outcry, and military coups in various regions, such as Asia-Pacific, Europe, and the Middle East & Africa, are expected to drive the respective governments of these regions to equip their militaries and national security forces with the necessary and strategically vital arms, such as artillery systems, to initiate retaliatory strikes against adversaries. Advancements in target acquisition systems enable precision artillery firing. Automated direct indirect fire mortar system provides extended range and improved accuracy and has become a major trend among militaries around the world.
Improvement of existing artillery system capabilities, while incorporating new technologies, has become a major trend among militaries around the world. The countries are achieving this by developing long-range cannons and hypersonic weapons. Warfare techniques have undergone significant changes over the past decade due to the rise of technologically improved threats, thereby enabling military forces to employ newer artillery systems to neutralize adversaries. Guided artillery systems are one such weapon for militaries fighting in hostile environments which facilitate greater accuracy in attacks. Factors that are expected to bolster spending on guided artillery are the significant decrease of cost, a wide range of configuration options to choose from, and familiarity with these weapons among the militaries of numerous countries.
An increase in the proliferation of advanced special munitions, such as thermobaric, precision, and top-attack munitions, suitable for use against artillery weapons is a key challenge for artillery weapons. Most militaries are using counter-battery radars to detect the location of artillery weapons, which means they are less susceptible to attack. For instance, South Korea has developed an artillery-locating radar to counter North Korea’s long-range artillery, deployed along the Demilitarized Zone that separates two countries. With a range of 60 km, this radar helps to identify the location of the shells.
What are the product classifications in the global artillery systems market?
The market consists of six categories: self-propelled artillery systems, multiple rocket launch systems, naval guns, towed artillery systems, close-in weapon systems, and mortar systems. Over 2022-2031, the market is expected to be dominated by the self-propelled artillery systems segment, followed by the multiple rocket launch systems segment.
Global artillery systems market, by product
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What are the top regions and countries for the global artillery systems market?
In 2021, the global artillery systems market was led by the European region, followed by the Asia-Pacific and North America, by value. The Middle East & Africa, and Latin America accounted for the remaining market share.
Russia is expected to lead the European artillery systems market with several ongoing programs over the forecast period. Some of the major countries in the region, the UK, France, and Italy, although adopting a conservative approach towards defense procurement, are anticipated to contribute significantly to the market for artillery systems. In the Asia-Pacific artillery systems market, the Indian market is anticipated to dominate the region due to its territorial disputes with neighboring countries such as China and Pakistan. India is also anticipated to induct several artillery and mortar platforms over the next decade. Similarly, Saudi Arabia and Egypt lead the Middle Eastern & African markets for artillery systems respectively.
Global artillery systems market, by region
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Who are the key players in the global artillery systems market?
Key players in the global artillery systems market are BAE Systems Plc, Rostec Corp, Lockheed Martin Corp, General Dynamics Corp, Leonardo SpA, and Hanwha Corp.
Global artillery systems market, by key companies
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Market report scope
Market size (Year – 2021)
|Growth rate||CAGR of >3% from 2022 to 2031|
|Base year for estimation||2021|
|Product segmentation||Self-propelled Artillery Systems, Multiple Rocket Launch Systems, Naval guns, Towed Artillery Systems, Close-in Weapon Systems, and Mortar Systems|
|Regional coverage||North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America|
|Key companies||BAE Systems Plc, Rostec Corp, Lockheed Martin Corp, General Dynamics Corp, Leonardo SpA, Hanwha Corp KMW+Nexter Defense Systems NV, and Polska Grupa Zbrojeniowa SA|
What else is contained:
- Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing artillery system projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global military land vehicles market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global artillery system over the next ten years.
- Gain an in-depth understanding of the underlying factors driving demand for different artillery system segments in the top spending countries across the world and identify the opportunities offered by each of them.
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the global artillery systems market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global artillery systems market.
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top artillery system providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
BAE Systems Plc
Ordnance Factories Board
Table of Contents
Table of Contents
Global Artillery Systems Market – Overview
Global Artillery Systems Market – Segment Analysis
Global Artillery Systems Market – Regional Analysis
Global Artillery Systems Market – Trend Analysis
Key Programs Analysis
Competitive Landscape Analysis
Frequently Asked Questions
The global artillery system market size is estimated at $4.6 billion in 2021.
The global artillery system market is expected to grow at a compound annual growth rate of more than 3% from 2022 to 2031.
Europe represented the largest region for the global artillery systems market in 2021, followed by Asia-Pacific, and North America.
The key players in the global artillery system market are BAE Systems Plc, Rostec Corp, Lockheed Martin Corp, General Dynamics Corp, Leonardo SpA, and Hanwha Corp.
The high-potential countries for the global artillery systems market are the US, Russia, Poland, Turkey, India, China, South Korea, Saudi Arabia, Israel, Mexico, and Egypt.